The following list of transactions and events were recorded, and you need to prepare an Income Statement for the end of that year. transaction Delivery truck fuel expenses Monthly oven cleaning Closing inventories Rent Purchase of delivery trucks € €2,000 Sales €500 €20,000 €35,000 €150,000 transaction cogs gross profit operating expenses operating profit interest expenses earnings before taxes Heat and light bill Telephone bill Loan from investor Sales revenu Goods purchased € €1,000 €600 €100,000 €150,000 €80,000 transaction Insurance Loan interest payable Cash in bank Salaries and wages Opening inventories € Fill in the below blanks with the essential data from the Income statement. Please do not use the € or $ sign, nor decimals, nor any words in your answers. E.g. write one thousand as 1000 and NOT as 1.000 or 1,000. Computers ;-) €1,500 €500 €10,000 €15,000 €25,000 Fill in the below blanks with the essential data from the Income statement. Please do not use the € or $ sign, nor decimals, nor any words in your answers. Computers ;-)

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 4SEB: SALES RETURNS AND ALLOWANCES ADJUSTMENT At the end of year 1, MCs estimates that 2,400 of the...
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The following list of transactions and events were recorded, and you need to prepare an Income Statement for the end of that year.
transaction
Delivery truck fuel
expenses
Monthly oven cleaning.
Closing inventories
Rent
Purchase of delivery trucks
€
€2,000
€500
€20,000
€35,000
€150,000
transaction
Sales
cogs
gross profit
operating expenses
operating profit
interest expenses
earnings before taxes
Heat and light bill
Telephone bill
Loan from investor
Sales revenu
Goods purchased
€
€1,000
transaction
Insurance
Loan interest payable
€600
€100,000
Cash in bank
€150,000
Salaries and wages
€80,000 Opening inventories
€
€1,500
€500
€10,000
€15,000
€25,000
Fill in the below blanks with the essential data from the Income statement.
Please do not use the € or $ sign, nor decimals, nor any words in your answers. E.g. write one thousand as 1000 and NOT as 1.000 or 1,000.
Computers ;-)
Fill in the below blanks with the essential data from the Income statement.
Please do not use the € or $ sign, nor decimals, nor any words in your answers.
Computers ;-)
Transcribed Image Text:The following list of transactions and events were recorded, and you need to prepare an Income Statement for the end of that year. transaction Delivery truck fuel expenses Monthly oven cleaning. Closing inventories Rent Purchase of delivery trucks € €2,000 €500 €20,000 €35,000 €150,000 transaction Sales cogs gross profit operating expenses operating profit interest expenses earnings before taxes Heat and light bill Telephone bill Loan from investor Sales revenu Goods purchased € €1,000 transaction Insurance Loan interest payable €600 €100,000 Cash in bank €150,000 Salaries and wages €80,000 Opening inventories € €1,500 €500 €10,000 €15,000 €25,000 Fill in the below blanks with the essential data from the Income statement. Please do not use the € or $ sign, nor decimals, nor any words in your answers. E.g. write one thousand as 1000 and NOT as 1.000 or 1,000. Computers ;-) Fill in the below blanks with the essential data from the Income statement. Please do not use the € or $ sign, nor decimals, nor any words in your answers. Computers ;-)
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